SWKS · 10-K · 2026A · Full report

Income Tax Rate Changes

SKYWORKS SOLUTIONS, INC. · 2026-11-10 · Importance 19 · Surprise 22

Fiscal 2026 income tax provision was $41.6 million, down 16.1% from $49.6 million in fiscal 2025; the provision was 1.1% of revenue versus 1.2%. The decrease primarily reflected lower taxes associated with lower earnings, partly offset by share-based compensation shortfalls, uncertain tax positions, Qorvo transaction costs, and a lower foreign-derived intangible income deduction benefit. Fiscal 2026 tax included $43.9 million of U.S. federal tax benefit, $0.1 million of state tax benefit, and $85.6 million of foreign tax provision.

Key facts

• Fiscal 2026 income tax provision was $41.6 million, compared with $49.6 million in fiscal 2025. source
• Fiscal 2026 income tax provision comprised benefits of $43.9 million and $0.1 million for U.S. federal and state income taxes, respectively, and $85.6 million of foreign income tax provision. source
• The OBBBA, enacted by the U.S. government in July 2025, did not have a material impact on Skyworks' fiscal 2026 financials; Skyworks continues to evaluate its future-period impact. source
• The decrease in fiscal 2026 income tax expense was primarily due to lower taxes from decreased earnings, partly offset by share-based compensation shortfalls, uncertain tax positions, Qorvo transaction costs, and a lower foreign-derived intangible income deduction benefit. source
• The Pillar Two tax impact was immaterial to Skyworks' financial statements for fiscal 2026 and fiscal 2025; the rules became effective for Skyworks beginning in fiscal 2025. source